The most recent Senate schedule is flagging a concern that the CLARITY Act is not a top priority right now. The published floor agenda dated the 3rd of August included no reference to the Digital Asset Market Clarity Act (H.R. 3633).
Instead, senators are concentrating on a procedural vote regarding H.R. 6500, a continuing resolution.
As of the 31st of July, there was no cloture petition for CLARITY in the Senate’s cloture ledger, which keeps track of official filings to conclude legislative debate. However, this does not imply that the bill is doomed.
Rather, it indicates that Senate leaders have not yet made the necessary public moves to move it to the floor.
If filed by the 5th of August, Senators may vote on whether to conclude debate on the motion to move forward with the bill on the 7th of August.
Is the approval possible before the August recess?
Even if that procedural vote receives the necessary 60 votes, senators could debate the motion for up to 30 hours before formally taking up the legislation.
That said, Senate leaders could accelerate the process by enacting a unanimous consent agreement or a bipartisan cloture petition. But that would require widespread support and, in the latter case, no senators’ objections.
To date, it is still unclear which legislative vehicle will be used, the passed H.R. 3633 or the revised Senate text introduced by Sen. Cynthia Lummis.
The crypto industry is frustrated with the delay
Seeing the constant delay, Anthony Scaramucci said,
So it now feels like the Republicans don’t want the CLARITY Act to pass so that they can blame the Democrats for not passing it and then seek donations from the crypto industry in the Fall.
He added,
Put this Bill on the floor.
Echoing similar sentiments and stressing the approval odds on Kalshi, a well-known crypto trader said,
CLARITY Act odds have dropped to 33%, almost at a yearly low. Next week is all there’s left before August recess. If CLARITY Act doesn’t move to Senate voting in the next 5 days, it’ll probably not pass this year.
Hope remains
However, not everyone is losing hope, as highlighted by Tom Shaughnessy Jr., the co-founder of Delphi Digital, who said,
This was in line with a recent letter from the Solana Policy Institute (SPI) to Senate Democrats Schumer and Thune asking them to bring the CLARITY Act to the Senate floor before the August recess begins.
Final Summary
- Days are passing by, and the CLARITY Act was still not the top priority in the recent Senate Schedule.
- The delay has also caused the approval odds to drop to their annual low at 33%.
Be the first to comment